NZ dollar weakens as commodity prices fall

Sun, 26 Jul 2015

By Tina Morrison July 27 (BusinessDesk) - The New Zealand dollar fell after signs of weaker Chinese manufacturing activity weighed on commodity prices, denting demand for commodity currencies. The kiwi slipped to 65.71 US cents at 8am in Wellington, from 65.76 cents at the New York close and 65.81 cents at 5pm on Friday. The trade-weighted index edged lower to 70.18 from 70.22. Commodity currencies have been downbeat since the preliminary China Caixin purchasing managers’ index weakened on Friday, raising concern that a slowing Chinese...

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